According to a recent report published by Research & Markets, nanotechnology and nanomaterials are being used by automotive companies in an endeavor to enhance vehicle performance, and meet both consumer demands and regulations.
Nanomaterials help structural, electrical, thermal, optical and magnetic technology improvements. They also provide eco-friendly and cost- effective options to toxic substances.
They can be for polishes, glass treatments and paint that changes color and altered polymers and resins. They are also used in applications such as nanostructured ceramics and coatings, making the end product tolerant to wear and erosion. They are light-weight, minimize friction and are resistant to UV rays. They help batteries resist corrosion and increase their life span, making them ideal for use in electric vehicles and electronics and sensors. Their light weight helps reduce the vehicle weight, makes the engine efficient and fuel-efficient, controls carbon emission, improves both active and passive safety, minimizes vibration and helps the driver control the vehicle better, increasing his safety and comfort levels.
Automotive products based on nanotechnology and nanomaterials earned revenues of US$246million in 2010, and this figure is expected to rise to $888million by 2015.